Australia's Black Friday sales were 298% higher than last year!

According to the latest survey by fintech company Klarna , Australian consumers spent 298% more on the just-passed Black Friday than the same period in 2020!

Sales between midnight and 1am on Friday were 399% higher than during the same period on normal days. Sales peaked between 3pm and 4pm Australian time , 878% higher than during the same period on normal Fridays. Such impressive sales results have made many businesses very happy.

As the BNPL (buy now, pay later) payment method becomes popular around the world, many consumers in Australia also use this method to shop, using interest-free installments to reduce the financial burden of shopping sprees.

According to statistics, millennials between the ages of 25 and 40 are most likely to use BNPL payment methods to meet their shopping needs. On Black Friday, the proportion of shopping through this payment method accounted for 54%.

Klarna said that spending in the categories of clothing, shoes, jewelry and accessories, and leisure products was higher. According to retail trade data, spending on clothing, shoes and accessories increased by 27.7% in October. Black Friday also continued this upward trend.

There are also categories such as computers, electrical appliances, toys, cosmetics, etc., which are also popular among consumers during Black Friday.

On Friday, the Australian Retailers Association predicted that local consumers would spend about A$5.4 billion between Friday and Monday , with online sales peaking on Cyber ​​Monday.

National Australia Bank ( NAB) indicated that Australians will spend about A$5.5 billion during the shopping period, with up to A$1 million spent every minute. Rachel Slade, head of personal banking , said that one-sixth of retail sales in November last year were generated during the four days from Black Friday to Cyber ​​Monday. As the economy picks up, such sales are expected to occur this year.

A survey by Finder shows that nearly 35% of Australians said they will shop on Black Friday and Cyber ​​Monday. This also shows that Australian consumers are ready to spend during the promotional holidays, so it is not surprising to have such outstanding sales results.

In addition, people like to buy Christmas gifts in advance during the discount season, so Black Friday and Cyber ​​Monday are becoming more and more popular among local consumers in Australia.

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